What areas of your organisation do you monitor? In this 2:40 minute video, Simon Biltcliffe explains how at Webmart, they monitor the company’s Intellectual, Emotional and Financial return for true competitive advantage.
So, how we do it.
The first rule that we all know in business is if you can’t measure it you can’t manage it. The trouble is, if you only look at the financial aspect of it, you’re looking mono-dimensionally, and as the old adage goes, “To the man with the hammer the whole world is a nail”, because you just batter one thing. Everything else is just subsidiary to that.
Well at Webmart we don’t measure just the finances.
We measure three things: the Intellectual, Emotional and Financial return of the business.
If you measure those three things at a business level, you’re maximising your comparative advantage, you’re enjoying it and you’re making a full return on your labour employed. You’re ensuring you’ve got that balance in it.
Intellectual is first, and I’ll explain how we measure that later, then Emotional and Financial.. And this is powered, right in the middle, by those core values of trust and transparency. If you get those two right, everything works. If you haven’t got that you’re screwed, because nobody will want to work with you. So the more trustworthy you can be, the more transparent you can be, which is the easier way of doing it, and it’s cheaper! If you’ve only got one version you don’t have to keep all those different levels of information within it.
At an individual level, this is what it means. If I can be an employer that maximises what you’re good at (Intellectual), what you love doing (Emotional) and pays well (Financial), then to be honest, you aren’t going to want to go anywhere else.
I’ve got loads of mates, and I’m sure you have too, who are here (doing what they’re good at and what pays well). Rich but bored. And they’re at 52 going “oh my fucking god, what did I do? What did I do for the last 30 years?” They’re typically accountants, and they followed the professional classes that their mums and dads said was a very good career, and because their heart and soul wasn’t in it but they got money, they thought that that was enough – and it isn’t.
For young people, they want the three. And this is where, if you think of a business as a bag of people (because that’s all it is, there’s no need to look into it more than that – there’s no such thing as a business, it’s a bag of people in a place), then, by doing that, you get the best competitive advantage you can as a business.
Speaking at the 2017 Happy Workplaces CEO Conference, Simon explained that many of his friends are now 52 and wondering what they did with their lives. They focused on well-paying careers and using what they were good at, rather than making sure that it was also something that they enjoyed – and so at Webmart, it is important that they ensure their staff feel Intellectually, Emotionally and Financially fulfilled.
“At an individual level, this is what it means. If I can be an employer that maximises what you’re good at (Intellectual), what you love doing (Emotional) and pays well (Financial), then to be honest, you aren’t going to want to go anywhere else,” Simon explains.
“For young people, they want the three. And… by doing that, you get the best competitive advantage you can as a business.”
Resources and related content
- Simon’s PowerPoint slides – click here to view (on Prezi – external site)
- What I Do Well + What is Useful + What I Love = Happiness at Work, a two-minute video of Laurence Vanhée speaking at the 2018 Happy Workplaces Conference
- 9 Benefits of Having Happy Employees, a guest blog by Elinor Schmitz-Jansen
Simon Biltcliffe is an award-winning CEO, international public speaker and business expert; widely acclaimed for his talks on his Marxist-Capitalist business model, as well as talks on employee motivation and running a thriving organisation in the 21st century.
An IoD Director of the Year, he is the founder and CEO of national print services agency, Webmart, and the world’s first digitally driven print platform, Printelligence. From starting Webmart with just £10,000 of his own savings, Simon has turned the business into a £30 million turnover organisation with just 44 employees whilst implementing his unconventional business model and maximising everyone’s I.E.F (Intellectual, Emotional and Financial) return.
You can follow Simon on Twitter @marx4capitalism.
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